POWER OF INVESTING

  • Jul 22 2022
  • by
  • Analyst AZA
POWER OF INVESTING

POWER OF INVESTING

The best and most profitable means of investment right now is foreign exchange also known as Forex. You may ask what's forex?

Forex is a massive financial market where fiat currencies are traded. And how can a regular person participate in the financial exchange?

With appropriate documents, a regular person can open an account with a broker, and my best broker of choice is azaforex.com. After verification, an account is opened and you can start taking part in trading.

What's the role of a broker?

Brokers are the middlemen between traders and interbank, therefore, they let you, traders, buy and sell currencies while charging a small commission on trades with zero spreads.

With the current fiat inflation and more workers continually getting laid off, trading and other online businesses are the last resort of hustles for citizens in different nations.

Citizens in this day and age can now profitably earn and pay their bills right from the comfort of their homes.

Simple strategy.

With a simple strategy and top risk management skills a trader can earn from the markets every day from Monday to Friday. In the case of cryptocurrencies, a trader can earn every day of the week from Monday to Sunday.

One of the strategies I use is a range-bound strategy. With this strategy you let the price hit support and resistance levels first then you buy or sell when the price is in the middle of the range.

This has proven to be a reliable strategy because it minimizes fake-outs and stops hunts making your trades risk-free.

Leverage.

A minimum average is important because it helps traders not to blow their accounts.

With minimum leverage of 1:200, a trader won't be allowed to open many trades regardless of how confident he/she is about a particular setup.

Profitability.

Minimum account gains of 1% every week for more than 2 months qualify a person to be a profitable trader that's how simple it is. Am not saying it's going to be easy but am saying it's simple.

Cryptocurrencies.

The current drop in the value of cryptocurrencies has led investors to sell their coins at a discount value. Many lives have been destroyed due to investing without proper knowledge.

Examples are investing with your life savings, School fees, and Loans.

The current drop has taught some of us an important lesson. Invest what you can afford to lose.

The US currency currently is undergoing inflation but with continuous interest hikes on a point basis the dollar will strengthen and the value of gold together with other currencies will weaken.

This will lead investors to treat the dollar as their haven. So, this year is a good year to continually short gold.

Another way of trading forex is by buying and selling currencies over the counter (OTC) this is by use of Binary options its easy and doesn't require much analysis.

Disclaimer: am not a financial officer so invest while doing your research. According to my experience binary options is not good for beginners even though it looks easy.

Major sites for trading OTC currencies are pocket options I do recommend this site because I have a positive experience using it. For a person to have an account you should have documentation that proves you are over 18 years old. Other sites that I haven't mentioned don't need documentation because they use cryptocurrencies as their means of deposit and withdrawal.

A proven way of staying profitable.

The proven way of staying profitable in these foreign markets is by day trading. Statistically, traders are more likely to lose their accounts if they hold positions overnight and over weekends, this is according to data provided by brokers and prop firms.

What is day trading? day trading is holding positions within 24 hours.

This means by the end of the day all positions should be closed or squared out.

Another way of profiting from these markets is by Scalping, this is holding positions from minutes to hours only using smaller times like 1-minute to 1-hour timeframes.

Scalping is risky because you'll be exposing your equity to the continuous risk of losing every hour, but remember for a person to be successful there must be risk and reward.

Before any investment make sure you have proper knowledge of the assets you want to invest in this goes for forex.

Make sure you have a solid foundation of important concepts in chart analysis before investing. Trading skills can always be tested using demo accounts provided by any brokerage firm.

Education.

Forex education is now available and given by brokerage firms worldwide. This is to create awareness of the lack of knowledge. The reason being the majority of people start trading without any knowledge whatsoever in trading and continually lose funds.

Healthcare.

Trading takes away body and mental energy very fast. So, looking after yourself while trading is essential. Many traders end up in depression without even knowing that is why psychology matters the most than strategy.

If a trader masters the mind, he/she masters the emotions and that is when the trader will start to be profitable in the long run.

Overtrading.

A new trader will be overwhelmed when placing trades and he/she might end up trading this can result in account margin called, due to overexposure of risk.

So, knowing when to stop trading is crucial for a trader.

Stocks.

A trader can Diversify his/her portfolio by investing in different stocks such as Google, Tesla, Bank and nifty, etc. brokerage firms I recommend are interactive brokers, TD Ameritrade, and Fidelity. They offer user-friendly platforms to buy and sell stocks. For a person to have an account with them he/she should provide proper identity documentation and proof of address.

Accounts.

A trader is advised regardless if he/she is an advanced or a beginner trader to have multiple accounts under one account known as the master account. The reason here is the proper distribution of risk.

You see if a trader solely has one account and profits accumulated remains in that account, one wrong trade could make the trader lose the account and all the earned profits will be for nothing. So, knowing how to distribute risk is essential in your journey to becoming a trader best and most profitable means of investment right now is foreign exchange also known as Forex. You may ask what's forex?

Forex is a massive financial market where fiat currencies are traded. And how can a regular person participate in the financial exchange?

With appropriate documents, a regular person can open an account with a broker, and my best broker of choice is azaforex.com. After verification, an account is opened and you can start taking part in trading.

Stay safe and I hope you never give up.

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Invest what you can afford to lose.

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